Georgia

Overview of the Amherst Group

Amherst is a real estate investment, development, and operating platform that seeks to fill unmet consumer demand for affordable, accessible, safe single-family housing across the U.S.

Covington, Georgia

Georgia's
Housing Market

Housing is a major driver of the Georgia state economy. The real estate industry accounted for $127.9 billion, or 18.7% of gross state product in 2021 . Over half the economic impact of the real estate industry comes from new home construction.

Georgia Needs More Attainable and Sustainable Housing

Georgia currently does not have enough homes for its residents.

The statewide housing supply gap is over 118,000 homes according to a report, in line with nationwide trends.

Georgia currently ranks 10th in the nation for the most severe housing deficit. The city of Atlanta ranked 9th in city and metro areas with the largest housing underproduction, falling almost 100,000 units short.

The median sale price of a home in Georgia was $366,900, an increase of 13.7% over the previous year. The number of homes sold declined by 22% as more Georgians become priced out of the market.

Underpinned by proprietary technology, crisis-tested data, and a long tradition of working with our residents to promote housing stability, Amherst’s vertically-integrated housing platform seeks to develop innovative solutions to the nation’s housing supply crisis and provide high-quality single-family homes for lease to consumers in the communities we serve.

Amherst By the Numbers [1]

32

U.S. Market

220

Counties

19

States

Amherst Housing Solutions

Renovated Single-Family Homes for Lease

Build-To-Rent Communities

Housing Incubator:

  • For-Sale Homes
  • Studio Built Homes

Atlanta, Georgia

Amherst: The
Residents We Serve

The Amherst housing platform serves residents who:

  • Want the flexibility and convenience of renting while in their household formation years
  • Want the quality, space and amenities of a single-family home but cannot qualify for a mortgage
  • Are younger, with larger families, and higher student debt burdens
  • Have limited access to high-quality single family housing options

Average Amherst Resident Profile

3 Members

Per household

29-45

Years old

$92,800

Household income

653

Average credit score

Our Impact in Georgia [2]

Beyond providing quality housing opportunities, Amherst has a positive impact in your community through our investments in local businesses and neighborhoods. Local vendors benefit from our investment in home renovations and homeowners benefit from the removal of blight from their communities. We have been operating in Metro Atlanta for over 10 years through our property management arm Main Street Renewal to renovate homes and build high-quality single-family homes for lease that are affordable for families and increases access to communities of opportunity for Georgia residents. Our presence creates jobs, helps local businesses, and improves home values.[3]

Our Homes in Metro Atlanta

Lithia Springs
Lithia Springs
Atlanta
Atlanta

Years in Market

10+

Number of employees

90+

Number of
Homes renovated

1.7k+

Years in Market

10+

Number of employees

215+

Number of
Homes renovated

5.7k+

Number of
Residents served

33k+

Total spent on home renovations and repairs

$363M+

Residents utilizing
Housing choice vouchers

460

Number of
Residents served

4.2k+

Total spent on home renovations and repairs

$371.8M+

Residents utilizing
Housing choice vouchers

460

Number of local
Vendors used

435+

Total invested
in local vendors

$189M+

HOA
FEES PAID

$2.6M+

Number of local
Vendors used

600+

Total invested
in local vendors

$189M+

STATE AND LOCAL TAX REVENUE

$107M+

Our Homes in
Georgia[4]

VIEW THE MAP

Renovated Single-Family Homes for Lease

  • Amherst’s single-family rental platform provides growing families the choice of a high-quality home in communities of opportunity that they likely would not be able to access otherwise.
  • Housing is an ongoing need, and we provide it in a way that is accessible, affordable, and supported by a full suite of resident services through our property management arm Main Street Renewal.
  • Amherst is committed to revitalizing America’s aging housing stock. The average of the homes on our platform is 34 years old, these are homes in need of significant renovation:
  • 74% of the homes we buy need more than $25,000 in immediate repairs
  • 32% require more than $45,000
  • None of the homes we purchase require less than $10,000 in renovations

Lithonia, GA

Group 231
Group 232

Estimated renovation cost at home purchase: $81,000

Amherst’s Housing Incubator

Our solutions development platform where we utilize our capital to innovate, develop, and launch new technologies or products that are solving pain points in the housing ecosystem and are tailored to meet community needs.

Amherst Supports Our Residents’ Housing Stability

CARES: Industry-First Approach to Empowering Residents

Launched in 2017, the CARES (Client Assessment Resources and Empowerment Services program educates residents and empowers them to achieve greater housing stability through resource sharing, advocacy, and social-emotional support. Staffed by a team of in-house social workers and program specialists, CARES has served over 6,000 residents.[5] CARES offers financial empowerment programming, rental & utility assistance, and personalized case management for each resident.

We promote housing stability by:

Resource sharing

Advocacy

Social-emotional support

Amherst Values at Work

Our Residents

CARES Program & Retention Initiatives

Our Communities

Amherst Foundation & CapCityKids

Our Environment

Energy Efficiency & Green Materials

The Future of Housing

Housing Incubator & Studio Built homes

Amherst Gives Back

The Amherst Foundation

Seeks to strengthen the communities we live and work in, by contributing to organizations that provide critical social services for those in need.

CapCityKids

Is a non-profit organization that helps children facing homelessness get a quality education by partnering with homeless liaisons to connect students with critical resources.

[1] Data since inception and as of March 31, 2022

[2] Data since inception and as of July 2022

[3] Wu, Xiao, and Xiao, Do Wall Street Landlords Undermine Renters’ Welfare?, 2020. Kondo,
Andreyeva, South, MacDonald, Branas, Neighborhood Interventions to Reduce Violence,
2018. South, MacDonald, Reina, Association Between Structural Housing Repairs for Low-
Income Homeowners and Neighborhood Crime, 2021.

[4] Data since inception and as of August 2022

[5]  Data since inception and as of Q2 2022

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